Infant Formula Market, by Product Type (Starting Milk Formula, Follow-on Milk Formula, Toddler’s Milk Formula, Special Milk Formula), by Distribution Channel (Specialty Outlets, Supermarkets, Online Stores, Pharmacy Stores, Others), and by Region (North America, Latin America, Asia Pacific, Europe, and Middle East & Africa)- Size, Share, Outlook, and Opportunity Analysis, 2022 - 2030
Global infant formula market is growing at a substantial rate, owing to the rising working women population across the globe. In addition to this, growing demand for infant formula due to busy lifestyle and high birth rate across emerging economies is expected to foster the market growth of infant formula market during the forecast period. Infant formula is available in various product types such as starting milk formula, follow-on milk formula, toddler’s milk formula, and special milk formula.
Market Dynamics
Global infant formula market has witnessed significant growth in recent five years, owing to the changing consumer lifestyles which have led to a shift in food preferences. For instance, growing demand for processed and convenience foods is expected to fuel growth of the global infant formula market during the forecast period.
Rising demand for organic infant formula have increased the manufacturing among leading players, facilitating the increasing demand across the country. Rise in number of women participation in work force and need of high nutritional content in baby food is aiding the growth. For instance, in June 2021, ByHeart, a new infant formula U.S. based company announced the completion of its largest infant formula clinical trial and is on the track to become 4th fully integrated FDA-registered, U.S. based infant formula brand in the country.
Major players in the global infant formula market are increasing their investment on innovative product launches, research & development, and marketing & promotional activities to capitalize on emerging trends in various product types such as starting milk formula, follow-on milk formula, toddler’s milk formula, and special milk formula. This scenario is expected to fuel the market growth during the forecast period.
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